Why Uk Mechanics Need Mechanics Insurance Cover
If you are in the motor trade business and hire mechanics or do the job yourself
, you need to obtain Motor Trade Insurance. Whether you are a mobile mechanic or operate from premises, you need to obtain a mechanics insurance policy to cover your vehicle and all customers' cars that you handle. Today, insurance premiums are affordable, and you can obtain a comprehensive cover for as little as GBP 180.Mechanics insurance policy is designed for those who do not buy and sell cars, but only undertake repairs and replacements. The premiums depend on several factors including your personal vehicle, the area you cover, and the types of vehicles you service. Mobile mechanics can also opt for mechanics insurance cover for their van, and even customers' cars that they drive. A full comprehensive cover can be obtained for as little as GBP 300.
Most mechanics insurance policies are designed to cover a mechanic's own vehicle and cars of all the customers, without a value restriction. If you choose a comprehensive cover, then all your customers' cars will be entitled to comprehensive cover as well. A mechanics insurance policy normally includes coverage for mechanics, motor engineers, valeters, tuners, servicers, accident recovery operators, and other similar occupations.
Mechanics between the age of 21 and 24 who run their own business can opt for a third party mechanics insurance policy for as little as GBP 390.00 per year, under certain terms and conditions. Insurance companies offer a no claim bonus on renewal of a mechanics insurance policy. To qualify for the scheme, you will need to be between the age of 21-24, hold a valid driving license for a year, and have a small car of group six or less, or a van up to 2500cc. You also have to provide evidence of running a business, and produce receipts and invoices of work carried out.
Some insurance companies include a mechanics insurance policy as part of the Motor Trader Policy, instead of having separate policies. The types of policies offered are Third Party Only, Third Party Fire and Theft, and Comprehensive Policy, which are generally considered as policies for road risks. Premiums vary since each policy has its own features.
When choosing a mechanics insurance policy, you need to consider the extent to which you want to protect your vehicles, and those of your customers. Third party only, will cover damages to the other party, and you will not have any protection against damages of losses of your own. Third Party Fire and Theft covers damages to the other party, and also covers you in the event of theft or fire.
A Comprehensive policy will include both the other policies, and also covers the expense of repairs and damages to your vehicle, and injuries that you may suffer too. Liability insurance covers all the liabilities you may incur towards your customers and employees. A mechanics insurance policy is normally included as Public Liability Insurance, Product Liability, and Employee Liability.
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